Jacobi Capital Management LLC Has $4.42 Million Position in The Coca-Cola Company (NYSE:KO)

Jacobi Capital Management LLC cut its holdings in The Coca-Cola Company (NYSE:KO) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,974 shares of the company’s stock after selling 7,344 shares during the quarter. Jacobi Capital Management LLC’s holdings in Coca-Cola were worth $4,419,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. acquired a new stake in Coca-Cola in the third quarter valued at approximately $18,383,000. Balentine LLC lifted its stake in shares of Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares during the last quarter. Rice Partnership LLC lifted its stake in shares of Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after buying an additional 6,793 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares during the last quarter. Finally, Fiduciary Alliance LLC lifted its stake in shares of Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after buying an additional 8,499 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the sale, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 232,646 shares of company stock valued at $16,515,469. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of analyst reports. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, February 13th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Evercore ISI upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler upped their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Price Performance

NYSE KO opened at $71.20 on Friday. The business has a 50 day simple moving average of $64.53 and a 200 day simple moving average of $66.53. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a market cap of $306.22 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.